Ayayai Corporation prepares financial statements in accordance with IFRS Selected accounts included in the property, plant, and equipment section of the companys statement of financial position at December 31, 2019, had the following balances Land $300,180 Land Improvements 140,330 Buildings 1,100,420 Equipment 960,170 During 2020, the following transactions occurred 1 A tract of land was acquired for $150,200 as a potential future building site 2 A plant facility consisting of land and a building was acquired from Knorman Corp for use in production in exchange for 19,850 of Ayayai's common shares The most recent sale of Ayayai's common shares took place one month earlier, when 3,740 of Ayayai's common shares sold for $55 per share The plant facility was carried on Knormans books at $110,250 for land and $320,040 for the building at the exchange date At the exchange date, a reliable, independent valuator determined the fair value of the land and building to be $230,070 and $690,110 respectively 3 Equipment was purchased for a total cost of $440,000 Additional costs incurred were as follows Freight and unloading $12,950 Provincial sales taxes 30,800 GST (recoverable) 22,000 Installation 25,830 4 Expenditures totalling $94,700 were made for new parking lots, streets, and sidewalks at the corporations various plant locations These expenditures had an estimated useful life of 14 years 5 A piece of equipment that cost $79,700 on January 1, 2012, was scrapped on June 30, 2020 Double declining balance depreciation had been recorded based on a 10 year life 6 A piece of equipment was sold for $19,680 on July 1, 2020 Its original cost was $44,200 on January 1, 2017, and it was depreciated on the straight line basis over an estimated useful life of 7 years, assuming a residual value of $1,610 (a) Calculate the balance at December 31, 2020 in each of the following accounts Land, Land Improvements, Buildings, and Equipment ( Hint Ignore the related accumulated depreciation accounts ) Land $ Land Improvements $ Buildings $ Equipment $

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Ayayai Corporation prepares financial statements in accordance with IFRS. Selected accounts included in the property, plant, and equipment section of the companys statement of financial

Ayayai Corporation prepares financial statements in accordance with IFRS. Selected accounts included in the property, plant, and equipment section of the companys statement of financial position at December 31, 2019, had the following balances:

Land		$300,180
Land Improvements		140,330
Buildings		1,100,420
Equipment		960,170

During 2020, the following transactions occurred:

A tract of land was acquired for $150,200 as a potential future building site.

A plant facility consisting of land and a building was acquired from Knorman Corp. for use in production in exchange for 19,850 of Ayayai's common shares. The most recent sale of Ayayai's common shares took place one month earlier, when 3,740 of Ayayai's common shares sold for $55 per share. The plant facility was carried on Knormans books at $110,250 for land and $320,040 for the building at the exchange date. At the exchange date, a reliable, independent valuator determined the fair value of the land and building to be $230,070 and $690,110 respectively.

Equipment was purchased for a total cost of $440,000. Additional costs incurred were as follows:

Freight and unloading		$12,950
Provincial sales taxes		30,800
GST (recoverable)		22,000
Installation		25,830

Expenditures totalling $94,700 were made for new parking lots, streets, and sidewalks at the corporations various plant locations. These expenditures had an estimated useful life of 14 years.

A piece of equipment that cost $79,700 on January 1, 2012, was scrapped on June 30, 2020. Double-declining-balance depreciation had been recorded based on a 10-year life.

A piece of equipment was sold for $19,680 on July 1, 2020. Its original cost was $44,200 on January 1, 2017, and it was depreciated on the straight-line basis over an estimated useful life of 7 years, assuming a residual value of $1,610.

(a) Calculate the balance at December 31, 2020 in each of the following accounts: Land, Land Improvements, Buildings, and Equipment. (Hint: Ignore the related accumulated depreciation accounts.)